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Vietnam Industry October 2016

Vietnam: Industrial production grows at slowest pace in seven months in October

October 31, 2016

In October, industrial production rose 7.0% over the same month last year, which was below the 7.6% rise recorded in September and a seven-month low. Another steep fall in mining and quarrying output weighed on output despite accelerations in all other sub-categories.

In seasonally-adjusted terms, industrial production increased 1.3% from the previous month (September: 3.4% month-on-month). Annual average industrial production deteriorated from 7.6% in September to a 23-month low of 7.5% in October.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 7.6% in 2016, which is down 0.8 percentage points from last month’s forecast. For 2017, panelists expect industrial production to expand 7.7%, which is down 0.9 percentage points from last month’s estimate.

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According to data released by Nikkei and IHS Markit, the manufacturing Purchasing Managers’ Index (PMI) rose to 56.5 points in November, up notably from the 53.9 points logged in October and marking the best result since January 2000.

Industrial production expanded 9.6% over the same month a year ago in November, a solid pick-up from the 7.7% expansion recorded in October.
The acceleration came on the back of stronger output in the manufacturing sector and faster growth in the electricity and gas supply sector, while a slight rebound in the mining and quarry sector also supported the headline print.

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